Correlation Between Cortland Bancorp and Regions Financial
Can any of the company-specific risk be diversified away by investing in both Cortland Bancorp and Regions Financial at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Cortland Bancorp and Regions Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cortland Bancorp and Regions Financial, you can compare the effects of market volatilities on Cortland Bancorp and Regions Financial and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Cortland Bancorp with a short position of Regions Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cortland Bancorp and Regions Financial.
Diversification Opportunities for Cortland Bancorp and Regions Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cortland and Regions is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cortland Bancorp and Regions Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Regions Financial and Cortland Bancorp is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Cortland Bancorp are associated (or correlated) with Regions Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Regions Financial has no effect on the direction of Cortland Bancorp i.e., Cortland Bancorp and Regions Financial go up and down completely randomly.
Pair Corralation between Cortland Bancorp and Regions Financial
If you would invest 1,890 in Regions Financial on January 26, 2024 and sell it today you would earn a total of 87.00 from holding Regions Financial or generate 4.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Cortland Bancorp vs. Regions Financial
Performance |
| Timeline |
| Cortland Bancorp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Regions Financial |
Cortland Bancorp and Regions Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cortland Bancorp and Regions Financial
The main advantage of trading using opposite Cortland Bancorp and Regions Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cortland Bancorp position performs unexpectedly, Regions Financial can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Regions Financial will offset losses from the drop in Regions Financial's long position.| Cortland Bancorp vs. Western Digital | Cortland Bancorp vs. Valneva SE ADR | Cortland Bancorp vs. Mannatech Incorporated | Cortland Bancorp vs. Procter Gamble |
| Regions Financial vs. KeyCorp | Regions Financial vs. Fifth Third Bancorp | Regions Financial vs. New York Community | Regions Financial vs. Zions Bancorporation |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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